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F E D E R A L R E S E R V E BA N K O F N EW YORK Fiscal Agent of the United States [Circular N o. 4 7 3 6 ' M a y 7, 1959 Results of Bidding for 221-Day Treasury Bills, Dated May 15, 1959 Tax Anticipation Series To A ll Banking Institutions, and Others Concerned, in the Second Federal R eserve D istrict: The T reasury D epartm ent announced today that the tenders fo r $1,500,000,000, or thereabouts, o f T ax A nticipation Series 221-day T reasury bills to be dated M ay 15, 1959, and to mature Decem ber 22, 1959, which were offered on A p ril 30, were opened at the F ederal R eserve Banks on M ay 7. The details o f this issue are as fo llo w s: Total applied fo r . . $1,699,421,000 Total accepted .... $1,500,025,000 (includes $110,167,000 entered on a non competitive basis and accepted in full at the average price shown below) Range o f accepted competitive bids (excepting one tender o f $15,000,000) : H igh .......................... 97.851 Equivalent rate o f discount approx. 3.501% per annum Low ............................ 97.756 Equivalent rate o f discount approx. 3.655% per annum Average 97.811 Equivalent rate o f discount approx. 3.565% per annum ................... (98 percent o f the amount bid fo r at the low price was accepted) F ederal Reserve D istrict Boston .................................................... New Y ork ............................................. Philadelphia ......................................... C lev ela n d ............................................... Richmond ............................................. Atlanta ................................................. Chicago ................................................. St. Louis ............................................... M in n eap olis........................................... Kansas City ......................................... D a lla s ...................................................... San F r a n c is c o ....................................... To ta l ............................................. T otal applied f o r $ Total accepted 21,451,000 1,257,054,000 30,029,000 91,231,000 9,586,000 34,116,000 170,801,000 13,404,000 8,227,000 13,404,000 4,131,000 45,987,000 $ $1,699,421,000 5,451,000 1,124,954,000 15,029,000 72,231,000 9,586,000 31,016,000 166,801,000 13,404,000 8,077,000 13,368,000 4,121,000 35,987,000 $1,500,025,000 A l f r e d H a y e s , P resid en t.
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